The acquisition follows the insolvency of Plastal of Mölndal, Sweden, in March 2009 due to a liquidity crisis following a sharp downturn in the automotive industry and the financial markets. According to Menzolit, which has been part of the Plastal group, negotiations with All-Finanz were already in an advanced stage before the insolvency was announced.
The plans to sell Menzolit Compounds International GmbH and its subsidiaries were delayed, however, due to the actual circumstances of Plastal's insolvency.
Menzolit of Heidelberg, Germany, says it will “continue its operations and business as usual”, and that the sale builds a new foundation for its plants. It could also strengthen its market position and see additional strategic possibilities established for the company.
Menzolit, based in Heidelberg, Germany, is a manufacturer of sheet and bulk moulding compounds (SMC/BMC) with a strong presence in the automotive industry.
